joint venture

Qiagen reported year-over-year net sales of 1 percent, or 5 percent at constant exchange rates ahead of its planned Q2 earnings release next week.

Dubbed Automobi Molecular Diagnostics, the company will establish local manufacturing facilities and work to commercialize the Novodiag platform in China.

The Chinese joint venture aims to develop infectious disease assays based on iCubate's proprietary amplicon-rescued multiplex PCR technology.

The joint venture, called Renx AI Labs, will allow RenalytixAI to operate outside New York City and perform prospective revenue-generating contract research.

Through the JV and strategic partnership, the companies aim to provide precision diagnostic products and services to Hong Kong, Macau, South Korea, and Southeast Asia.

The firms will jointly invest in establishing a joint venture company in China, and Autobio has also invested €10 million in Mobidiag.

The two firms will provide €14M ($16.2 million) of equity funding to commercialize the Idylla platform in the Chinese market.

The planned joint venture with Beijing Zishan Health Consultancy is aimed at bringing Genetic Technologies' genomic tests to the Chinese market.